United Capital Plc (UCAP) has declared a final dividend of N1.50 to its shareholders for the year ended 31, December 2022.
The financial institution reported a Gross Earnings of N26.896 billion for the 12 months period, up by 48.89% from N18.065 billion reported the previous year.
Profit after tax of N9.653 billion was achieved for the 12 months period, down by 14.26% from N11.259 billion reported the previous year.
Earnings per share of UCAP stands at N1.61, down by 14.26% form the EPS of N1.88 achieved the previous year.
At the share price of N14.75, the P/E ratio of UCAP stands at 9.17x with earnings yield of 10.91%.
Qualification date for the proposed dividend of N1.50 is March 14, 2023.
The Register of Shareholders will be closed from March 15, 2023 to March 22, 2023 (both dates inclusive).
On March 28, 2023, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at March 14, 2023, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
Commenting on the Group’s performance, the Group Chief Executive Officer, Mr. Peter Ashade stated thus:
“We navigated a tough terrain to sustain our earnings growth and deliver decent returns to shareholders while strengthening our organisational resilience to factors militating against business growth especially in emerging economies during the year 2022.
Our operating environment despite the undulating landscape, continues to present windows of opportunities for all our businesses in the locations we operate. This is accentuated by the 49% growth in revenue to N26.90billion which helped offset increased operating expenses resulting from very high inflation and severely impacted macroeconomic environment which we anticipated in Q4-2022.
We remain upbeat about sustaining our performance in 2023 having kicked off the year in a robust financial position with close to N1trillion funds under management comprising trusts, mutual funds, and other professionally managed investments for our clients across diverse segments.
The Group is better positioned to deliver on our growth objectives while remaining competitive and sustainably profitable. We will continue to prioritise activities that create and preserve value for all our stakeholders into the foreseeable future.”